Latest news with #PortlandGeneralElectric
Yahoo
4 days ago
- Business
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PGE disputes city's rejection of its Forest Park transmission line project
PORTLAND, Ore. () — Portland General Electric is disputing the city's decision to strike down the next phase of a project that would remove several acres of trees from Forest Park. As first reported by , the Land Use Board of Appeals received the utility company's notice of intent to appeal on Wednesday. The notice is the latest update in the involving PGE's Harborton Reliability Project. Portland has the worst housing crisis outlook, LendingTree finds The project aims to install a new quarter-mile transmission line and upgrade a pre-existing line in Forest Park by cutting 376 trees from five acres of the 5,200-acre site. A Portland hearings officer approved the plan in March, despite testimony from several environmental advocates with concerns that the proposal would harm the urban park and its plant and animal communities. But city councilors tentatively granted Forest Park Conservancy's appeal against the project in April, before earlier this month. The most recent appeal from the utility company 'introduces the possibility of mediation in pursuit of our shared interests in serving Portlanders,' according to PGE Vice President of Policy and Resource Planning Kristen Sheeran. 'This project is urgently needed and the least impactful — affecting about one-tenth of one percent of Forest Park when stacked against alternatives that would condemn private property, affect Forest Park and additionally impact other environmentally and culturally sensitive areas, all while increasing the cost of the project that all customers would bear,' Sheeran added in a statement. 'We need the City to work with us on this project that is crucial to maintain reliable power for Portlanders.' Estacada man's arrest marks largest drug bust in Multnomah County history have argued it conflicts with Portland's 1995 management plan focused on preserving Forest Park's natural resources. Members of the Urban Forestry Commission have also highlighted the potential wildfire risks associated with the addition of transmission lines. However, PGE has contended the proposed tree removal would actually prevent safety hazards. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
08-05-2025
- Business
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City councilors strike down PGE's plan to axe portion of Forest Park trees
PORTLAND, Ore. () — Portland General Electric is no longer permitted to go forward with its plans to remove five acres of trees from a treasured urban park. During a meeting on Wednesday, Portland City Council voted to reverse a . Under one phase of the project, PGE planned to cut 376 Forest Park trees to make way for a new quarter-mile transmission line and upgrades on a pre-existing line. Chefs behind Portland's Cafe Olli tapped for Taste America series A Portland hearings officer approved the proposal in mid-March, despite the that it could negatively impact the park's plant and animal communities and it could increase wildfire risks. Forest Park Conservancy challenged the decision with an appeal it submitted to Portland Permitting & Development later in the month. City councilors in April, but their recent vote finalizes the move. In a statement to KOIN 6, PGE Vice President of Policy and Resource Planning Kristen Sheeran said the utility is considering an appeal of its own. 'The hard truth is that the need for the Harborton Reliability Project is unchanged, and the evidence is clear that this is the least impactful of all options to the environment, landowners, and costs ultimately borne by customers,' Sheeran added. 'We should expect City Council to share our commitment to providing reliable electricity to Portlanders, but no critical infrastructure process can be seriously addressed in only 15 minutes of testimony. The Council's process deserves serious reconsideration.' PHOTOS: Laurelhust Park tree goes up in flames early Thursday morning Although conservationists have argued the project will negatively impact Forest Park, the utility has contended that it would only prevent safety hazards from occurring. PGE has also claimed that the proposal ensures only a necessary amount of trees would be removed. But the utility failed to show data on how they would provide a 'material carbon reduction,' according to District 3 Councilor Angelita Morillo. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
27-04-2025
- Business
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Portland General Electric First Quarter 2025 Earnings: Misses Expectations
Revenue: US$928.0m (flat on 1Q 2024). Net income: US$100.0m (down 8.3% from 1Q 2024). Profit margin: 11% (in line with 1Q 2024). EPS: US$0.91 (down from US$1.08 in 1Q 2024). Our free stock report includes 3 warning signs investors should be aware of before investing in Portland General Electric. Read for free now. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates by 2.8%. Looking ahead, revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Electric Utilities industry in the US. Performance of the American Electric Utilities industry. The company's shares are down 4.0% from a week ago. We don't want to rain on the parade too much, but we did also find 3 warning signs for Portland General Electric (1 can't be ignored!) that you need to be mindful of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
17-04-2025
- Business
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Forest Park conservationists rally to appeal PGE's upcoming 5-acre tree removal
PORTLAND, Ore. (KOIN) – After a proposal from Portland General Electric to expand power lines in Forest Park was approved by city leaders, Portlanders are pushing back on the decision. Groups are expected to rally outside Portland City Hall on Thursday in protest of the project the says will impact nearly five acres with the removal of 397 trees, the filling of two wetlands, and the disruption of two streams. A six-figure salary might not be enough in Portland, report finds PGE's Harborton Reliability Project will install a quarter-mile transmission line, in addition to replacing some pre-existing lines. The by City of Portland Hearings Officer Marisha Childs in January 2025. 'As we've had time to review the Hearings Officer's decision, we've become even more frustrated as it repeatedly ignores key land use laws and the City's own staff report that recommended denial, and instead gives deference to a private corporation's arguments,' the conservancy said in a statement ahead of the rally. Following the decision, the group to Portland Permitting & Development. The the site's natural resources amid an uptick in factors like the number of visitors, spread of English ivy and the homeless population. Thursday's event coincides with a City Council hearing in which city leaders will consider the conservancy's appeal. The group has encouraged the public to in support of Forest Park and show up for the rally to testify during the hearing at 2 p.m. PGE has already completed the project's first two phases. The company stated that the ongoing project only entails the removal of trees that pose safety hazards for the park, as the utility works to renew the aging infrastructure that brings electricity to its customers. Oregon Senate passes bill protecting Oregonians who alert others of their rights The utility previously stated that it to identify the maximum amounts of trees that could be preserved throughout the park. The utility also said working in the proposed area would not affect 'old growth habitat.' But environmental advocates from organizations like Forest Park Conservancy and have argued the project would hinder the park's plant and animal communities — including Douglas fir and big leaf maple trees that are more than 150 years old. 'PGE cannot fully mitigate the damage from the proposed project,' the conservancy said in a previous statement. 'There are alternatives to their proposal, and this proposed project disrupts the forest's trajectory to becoming an ancient forest.' Stay with KOIN 6 News as we continue our coverage. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
25-03-2025
- Business
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Portland General Electric schedules earnings release and conference call for Friday, April 25
PORTLAND, Ore., March 25, 2025 /PRNewswire/ -- Portland General Electric Company (NYSE: POR) announced today that it will host an analyst conference call and webcast at 11 a.m. ET on Friday, April 25, to review its first quarter 2025 financial results. Portland General Electric plans to release its first quarter 2025 earnings summary before financial markets open in the United States on April 25. The conference call will be hosted by Maria Pope, President and CEO; Joe Trpik, Senior Vice President of Finance and CFO; and Nick White, Manager of Investor Relations. To hear the conference call by webcast, log on to Portland General Electric's investor website at select Events & Presentations from the menu, and the webcast will be listed under Upcoming Events. A replay of the webcast will be available beginning at 2 p.m. ET on April 25. The webcast replay will be listed under Archived Events within the investor website Events & Presentations page. About Portland General Electric Company:Portland General Electric (NYSE: POR) is an integrated energy company that generates, transmits and distributes electricity to over 950,000 customers serving an area of 1.9 million Oregonians. Since 1889, Portland General Electric (PGE) has been powering social progress, delivering safe, affordable, reliable and increasingly clean electricity while working to transform energy systems to meet evolving customer needs. PGE customers have set the standard for prioritizing clean energy with the No. 1 voluntary renewable energy program in the country. PGE was ranked the No. 1 utility in the 2024 Forrester U.S. Customer Experience Index and is committed to reducing emissions from its retail power supply by 80% by 2030 and 100% by 2040. In 2024, PGE employees, retirees and the PGE Foundation donated $5.5 million and volunteered nearly 23,000 hours to more than 480 nonprofit organizations. For more information visit For more information please contact:Nick White, PGE, 503-464-8073 Source: Portland General Company View original content: SOURCE Portland General Company
